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KBank offers financial supports for Asiatique's tenants

May 30, 2014

ENP Newswire - 30 May 2014

Release date- 29052014 - KBank joined hands with 'Asiatique' in granting financial support to tenants in a project to boost tourism and spending, foreseeing its potential to become one of the prominent tourist destinations in Bangkok.

The Bank expects to provide up to 100 million Baht of loans to 300 tenants in the project by the end of this year.

Mr. Patchara Samalapa, KASIKORNBANK Executive Vice President revealed that the Bank, in collaboration with 'Asiatique The Riverfront', has launched a support program for tenants in the project to finance their business expansion and to use as working capital. Loans will be provided under several programs including K-SME Start-Up - service solutions for proprietors new to business ownership, K-SME Full Support which is intended for SMEs having difficulties finding collateral but are in need of cash for business operations, expansions or ramping up liquidity.

K-SME Credit: Easy and Worry-free provides loans for business owners who are infrequent customers or have no transaction-related evidences to apply for bank loans. To verify customers' repayment ability, the Bank examines other evidence of customers business activities, including sale slips, order documents, water and electricity bills. Tenants applying for loans under this program will be exempt from the installment repayment on principle and interest for one month.

Other than that, the Bank also provides services for tenants' to make rental payments to the property manager by the auto account debiting service, adding to their convenience in running businesses. This service is free of charge for three months. In addition, through our PowerP@y (mPOS) payment system, which is compatible with iOS operation systems and android smartphones/tablets, proprietors can have more opportunity to sell their goods and services anytime, anywhere. The service comes with payment confirmation via mobile phone or email for every purchase. Offering even more incentives to attract customers into 'Asiatique The Riverfront' which should help boost spending and sales for shops in the estate, KBank has introduced promotional campaign for K-Credit Cardholders - 'Enjoy Your Meal and Get Double Luck'.

Mr. Patchara added that due to the changing lifestyles of consumers, both locals and foreigners alike, businesses providing a combined shopping and travel experience in one location have become extremely popular these days. Situated by the Chao Phraya River, 'Asiatique The Riverfront' is outstanding in its location, where the architectural style of the premises offers patrons a touch of colonial nostalgia. There is selection process for prospective shop tenants, to develop the project into a unique shopping center, where goods on offer are selective and special; this is crucial to the place's attractiveness in consumers' eyes. This collaboration will not only increase tenants' liquidity, it will also highlight to them the importance of keeping their account active - a practice that will be of use when it comes to business expansion, making it easier for loan application. The Bank estimates that around 300 tenants in this project will participate in the program, with 100 million Baht credit exposure.

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Source: ENP Newswire

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